Ruin Your Car's Front End? Blame China

Thieves lifting manhole covers

"Cities and counties are battling manhole-cover thefts, a crime spree that police tie to the weak economy.
Hundreds of 200-pound covers have disappeared in three months in California, Michigan, Pennsylvania, Massachusetts and Georgia as scrap metal prices pop up."

Iron Ore Prices Jump 96.5 %

China's steel manufacturers in Olympic building boom

"It has been estimated that more than 3 million tons of steel will be needed for the 280 billion yuan (US$33.8 billion) worth of Olympic construction projects and the 100 billion yuan (US$12 billion) worth of infrastructure projects

Manhole cover theft a worldwide problem

"Civic officials say the massive construction activity undertaken for the 2008 Olympic games in Beijing has increased demand for iron ore globally. As a result, they claim, organised gangs are now operating in Kurla, Bandra, Mankhurd and parts of Byculla to systematically steal the manhole covers. A staggering 1,500 covers have been stolen in the past few months—each costing a handsome Rs 5,500 in the grey market."